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The S&P 500 edged up in a volatile session on Monday as better-than-expected results from Exxon lifted energy shares and offset disappointing readings on consumer spending and the manufacturing sector. The Dow Jones industrial average was up 0.15 percent at 17,191.47, the S&P 500 was up 0.33 percent at 2,001.51 and the Nasdaq Composite was up 0.04 percent at 4,637.32.
** EXXON MOBIL CORP, $88.48, +1.21 pct
The world’s largest publicly traded oil company said its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to tax benefits and a favorable arbitration ruling.
Exxon also said it will reduce its share buyback program in the first quarter by more than half to $1 billion.
For a graphic on ExxonMobil vs. Chevron, (link.reuters.com/red93w)
** YOU ON DEMAND HOLDINGS INC, $2.66, +29.76 pct
The Chinese video-on-demand provider said it would show Twentieth Century Fox movies in China after the two companies signed a licensing agreement.
** RADIOSHACK CORP, $0.2298, -17.07 pct
Hedge fund Standard General LP is in talks to serve as the lead bidder at a bankruptcy auction for the struggling consumer electronics retailer, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
** MOLYCORP INC, $0.4221, +27.91 pct
The rare earth miner reported a 22 percent rise in rare earth oxide equivalent production output at Mountain Pass, and said it was seeing strong demand for magnetic rare earth material.
** ARDELYX INC, $19, -29.66 pct
The drugmaker said patients given its experimental kidney drug, tenapanor, showed “distinctly” higher-than-expected rate of diarrhea.
However, the drug, being co-developed with AstraZeneca Plc , achieved the main goal of cutting phosphate levels in patients with chronic kidney disease in a mid-stage study.
** NISKA GAS STORAGE PARTNERS LLC, $2.98, -21.78 pct
The natural gas storage company’s third quarter per-unit loss widened. Company warns unfavorable market conditions have continued into the fourth quarter.
** PLURISTEM THERAPEUTICS INC, $3.1, -16.67 pct
The Israeli drug developer said larger dose of its muscle treatment developed from placental cells is not statistically significant in improving muscle strength in gluteal muscles.
** PITNEY BOWES INC, $22.38, -6.67 pct
The company forecast flat to 3 percent revenue growth in 2015, but said “if current currency exchange rates are in place all year, reported revenue would be lower than constant currency revenue by more than 3 percentage points”. Also, reported lower-than-expected quarterly revenue.
** NAVIOS MARITIME PARTNERS LP, $12.98, +11.04 pct
The dry-bulk shipper said profit rose 32.9 pct to $13.5 million, or 16 cents per share. The company said available fleet days rose to 2,855 from 2,216 a year earlier as a result of acquisitions.
** INTELLIPHARMACEUTICS INTERNATIONAL INC, $2.19, +7.35 pct
Israel-based Teva Pharmaceutical will exclusively market the Canadian drugmaker’s generic oral drugs in the United States.
** AMERICAN AIRLINES GROUP, $47.82, -2.57 pct
** DELTA AIR LINES INC, $46.25, -2.24 pct
** UNITED CONTINENTAL HOLDINGS INC, $68.39, -1.41 pct
** SOUTHWEST AIRLINES CO, $44.08, -2.43 pct
** JETBLUE AIRWAYS CORP, $16.63, -0.95 pct
Major U.S. airlines’ shares down as a huge storm headed for the northeastern United States lead to flight cancellations. About 2,000 flights canceled and 2,100 delayed, according to FlightStats website.
** GENETIC TECHNOLOGIES, $2.64, -5.38 pct
The molecular diagnostic company’s shares continued to fall for second straight trading day. Shares more than tripled on Thursday, after the Australian company said it would open 6 new breast diagnosis treatment centres.
** ZOGENIX INC, $1.4199, +5.18 pct
The U.S. FDA approved a new version of the company’s pain drug, Zohydro.
** MOODY’S CORP, $88.93, -2.63 pct
The U.S. Department of Justice is investigating Moody’s Investors Services for issuing favorable grades on mortgage deals in the lead-up to the financial crisis, the Wall Street Journal reported on Sunday, citing people familiar with the situation.
** HIGHWAY HOLDINGS LTD, $3.23, +2.54 pct
The Chinese maker of metal, plastic, electric and electronic components reported Q3 profit that more than doubled to $361,000.
** NATIONAL BANK OF GREECE, $1.2, +9.09 pct
Greece’s new left-wing government will not take any actions that would hurt the share values of the country’s banks and does not plan to appoint party officials at key management posts, the government’s spokesman said on Monday.
Greece’s bank bailout fund HFSF holds majority stakes in three of the country’s four biggest banks, National Bank , Piraeus Bank and Alpha Bank, after their recapitalization.
** ENERGY XXI LTD, $3.14, +6.80 pct
** LINN ENERGY LLC, $10.59, +3.22 pct
** MILLER ENERGY RESOURCES INC, $1.44, +23.08 pct
** OASIS PETROLEUM INC, $14.19, +5.58 pct
** HALLIBURTON CO, $40.75, +1.90 pct
** APACHE CORP, $64.84, +3.63 pct
** TRANSOCEAN LTD, $17.01, +4.36 pct
Crude oil prices rose as investors shrugged off a U.S. refinery strike and focused on a falling U.S. rig count that signaled lower production down the line.
** YINGLI GREEN ENERGY HOLD CO LTD, $1.93, +3.21 pct
** JINKOSOLAR HOLDING CO LTD, $18.57, +4.21 pct
** CANADIAN SOLAR INC, $21.28, +4.36 pct
** TRINA SOLAR LTD, $9.57, +5.75 pct
China aims to install 15 gigawatts of solar power capacity this year, 43 percent more than it added in 2014, as the country seeks to prop up its solar panel sector and boost the use of renewable energy despite a lack of transmission infrastructure.
** 1-800-FLOWERS.COM INC, $8.66, +9.76 pct
The florist and gift shop’s second-quarter revenue doubled, helped by demand for gourmet food and gift baskets.
** CAMTEK LTD, $3.2099, +5.75 pct
The Israeli chip testing equipment maker received order from Bay Area Circuits Inc for its Gryphon system, used for 3D printing of components for circuit boards.
** MERIT MEDICAL SYSTEMS INC, $16.08, +4.89 pct
Analysts at Raymond James upgraded the medical device maker’s stock to “strong buy” from “outperform” and raised price target to $20 from $16.
“We believe that margins will improve and earnings over the next few years will be better than Wall Street expectations,” the analysts wrote.
** ADVANCED MICRO DEVICES INC, $2.68, +4.28 pct
The chipmaker's efforts to diversify its sales base are paying off and it is an opportunity for investors to buy the stock, says a Barron's report published on Saturday. (on.barrons.com/1BVa8wc)
** IMPERIAL OIL LTD , $39.04, +5.20 pct
Canada’s second-largest integrated oil producer and refiner expects to spend about $3.2 billion in 2015, 29 percent less than 2014. The company, majority-owned by Exxon Mobil Corp , posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices and weaker refining margins.
** FTI CONSULTING INC, $37.22, -8.48 pct
The business advisory firm estimates 2014 revenue and profit below average analyst estimates and its own forecast, citing lower revenue from its economic consulting and corporate finance and technology segment.
** ABERCROMBIE & FITCH CO, $24.84, -2.66 pct
Evercore ISI downgrades the apparel retailer’s shares to “sell” from “hold”, slashes price target to $20 from $45.
The company, which is in the middle of a revamp, faces many challenges in 2015, which should limit potential for near-term improvement, analysts write in a note.
** GUESS INC, $18.08, -3.73 pct
Evercore ISI downgrades the apparel retailer’s shares to “sell” from “hold.”
“... Severe currency shocks threaten further profitability erosion in its critical European markets,” analyst Omar Saad wrote in a note.
** CHIMERIX INC, $38.96, -2.87 pct
The drug developer said on Friday it would stop participation in clinical studies of its Ebola drug, brincidofovir, citing a significant decrease in the number new cases for the virus in Liberia.
Compiled by Avik Das in Bengaluru; Editing by Sriraj Kalluvila